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Subscribe to this list via RSS Blog posts tagged in hacking

Posted by on in Nsure Technology

A Dorset school with academy status has fallen victim to an online scam, reportedly losing more than £1m. St Aldhelm's Academy in Poole was contacted by people pretending to be bank workers and requesting details of the school's bank account. Staff subsequently passed them on and the criminals withdrew the money, part of a multimillion-pound government loan for rebuilding. The fraud happened last summer but has just come to light. The theft is believed to be linked to organised crime in eastern Europe. The matter was immediately referred to the police and Action Fraud by the academy trust and to the EFA. The matter continues to be investigated by the police.

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In the early 2000s, just around the time of the Dot Com Boom, some insurers stood up, took notice and began to develop a product designed to address the financial loss that might arise out of data breaches. This was at a time where most companies were just beginning to realise the economic potential of the Internet. At this time insurers were looking  to target the big dotcom companies such as Amazon, Yahoo, eBay and Google.  

 

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Supermarket chain Tesco has suspended more than 2,000 online accounts after cyber thieves targeted log-in credentials and Clubcard points. The deactivation comes after thousands of usernames and passwords - taken from non-Tesco websites - appeared on a text-sharing portal. It is believed that cyber thieves then used that data to crack accounts at Tesco.com, relying on the habit of some people using the same usernames and passwords for various websites. A Tesco spokesperson told Sky News: "We take the security of our customers' data extremely seriously and are urgently investigating these claims. "We are contacting all customers who may have been affected and are committed to ensuring that none of them miss out as a result of this." The speculative attack on Tesco was also used to steal Clubcard points from some customers - believed to number fewer than 10.

 

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Within my previous blogs I have provided various reasons & scenarios as why businesses today should seriously consider buying Cyber Liability Insurance. I am now able courtesy of CFC Underwriting to provide ten reasons to buy Cyber Liability Insurance. CFC Underwriting are one of the UK's major providers of Cyber Liability Insurance and are therefore extremely well placed to provide this information.

 

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Posted by on in Nsure Technology

Cyber insurance is a fast emerging market despite the fact that the risks have been out there for some time. The increase in the number of attacks along with media & press coverage has brought increased awareness to both the general public and business. The fact of the matter is that these risks will not be going away anytime soon and if anything are far likely to increase.

 

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The UK finds itself in the top ten for the first time in 2012 jumping eight places to seventh following a significant rise in hacking with the USA topping the league ahead of China and Russia. The last few years have seen a marked rise in "hacktivism" and following the infamous hacking of the Sony PlayStation Network the landscape has now changed forever with LinkedIn only recently having been hacked as well.hack origins

More and more Mobile Applications and Non-Mobile Applications are converging on us and people are continuing to download applications without thinking. Users are asking for more seamless plug and play technology such as HDMI, USB & SD Cards bringing with them more complexity and in consequence greater vulnerability. It is worth noting that the total bill for cybercrime footed by online adults in twenty four countries was circa $388 billion over the last twelve months.

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